Trump’s controversial D.C. hotel continues to lose money: report
According to a Bloomberg report, President Donald Trump’s first financial disclosure since taking office reveals that his hotel in Washington, D.C., which critics worried would be used by those wishing to “curry favor” with the president, hasn’t made that much money after all.
The disclosure, which clocks in at 98 pages, reports Trump’s income through April 15, reported $19.7 million of “hotel-related revenue,” which averages at about $2.8 million a month since it opened in September 2016.
A previous report released by congressional Democrats about the hotel’s revenue stated that the hotel made $4.1 million in September and October 2016, and that “expenses outstripped revenue and the hotel lost $1.2 million” in those two months.
Despite the stagnant income, the controversy surrounding the hotel hasn’t ended. According to Bloomberg, Trump’s D.C. hotel has already hosted a party for the Kuwaiti embassy and a dinner for the American Petroleum Institute that seated 45 oil executives, including Trump’s Environmental Protection Agency Director Scott Pruitt.
The disclosure, which only reported revenue through mid-April, did not include the financial reports from “a lobbying firm representing the government of Saudi Arabia disclosed it had paid $270,000 in lodging and catering fees to the hotel” in May.
Read the entire report on the plateaued income at Trump’s D.C. hotel via Bloomberg.